Blockchain Risk Assessment Update via Verifiable Claim Revocation
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Solution Overview
Problem
Existing blockchain-based systems face challenges in efficiently updating risk assessment information for users, particularly in financial services, where repeated risk assessments are necessary due to changes in user data, leading to outdated risk assessment information being retained and not effectively invalidated.
Innovation Solution
A blockchain-based method that involves creating a first verifiable claim for new risk assessment information and revoking the original claim using a first blockchain, with the updated content data being stored on a second blockchain, enabling the generation of a new risk assessment card that points to the latest risk assessment information, ensuring accurate and timely updates.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If risk assessment information is updated by creating new claims on the blockchain, then the accuracy and timeliness of risk assessment information is improved, but the system complexity increases due to the need for managing multiple verifiable claims and revocation mechanisms
Solution Approach 1:
The system divides risk assessment information into separate verifiable claims on the blockchain, with each claim representing a specific assessment instance. This segmentation allows for precise tracking and updating of individual assessment records while maintaining the overall system structure.
Solution Approach 2:
A credential issuer is introduced as an intermediary entity that creates and manages verifiable claims on the blockchain. This intermediary handles the complex operations of claim creation, updating, and revocation, thereby reducing the complexity burden on the overall system while ensuring accurate risk assessment information management.
2Reliability
If original risk assessment claims are retained in the blockchain, then the historical record is preserved, but outdated information continues to exist and may cause confusion or security issues
Solution Approach 1:
The system implements a revocation mechanism that allows original risk assessment claims to be effectively discarded by marking them as revoked on the blockchain. This maintains the historical record for integrity purposes while preventing outdated information from being used, as the revocation status is permanently recorded and verifiable.
Solution Approach 2:
The verifiable claims on the blockchain are designed to be dynamic, with the ability to change state from active to revoked. This dynamic property allows the system to preserve historical information while simultaneously invalidating outdated assessments, ensuring that only current valid claims are used for risk assessment purposes.
3Ease of manufacture
If a centralized system is used to update risk assessment information, then the update process is simple, but security and privacy protection are reduced
Solution Approach 1:
The blockchain-based system enables self-service updates of risk assessment information through automated verifiable claim creation and revocation processes. The credential issuer automatically manages the update lifecycle on the blockchain, eliminating the need for complex centralized coordination while maintaining strong security and privacy protections through cryptographic verification.
Data Source
AI summary
Disclosed herein are systems, methods, and media for processing and updating risk assessment information of a user. One of the methods here comprise: obtaining risk assessment information and digital identity of the user; creating a first verifiable claim based on the digital identity and the risk assessment information by using a first blockchain, revoking a second verifiable claim of original risk assessment information corresponding to the digital identity by using the first blockchain; uploading the first verifiable claim to a second blockchain; obtaining a storage credential of the first verifiable claim in the second blockchain, wherein the second blockchain is connected to a service processing platform; generating a risk assessment card corresponding to the user based on the storage credential and the first verifiable claim; and allowing the service processing platform to obtain the risk assessment information of the user from the second blockchain by using the risk assessment card.